Other equities analysts have also recently issued research reports about the company. Brean Capital reiterated a buy rating and issued a $28.00 target price on shares of Zogenix in a report on Wednesday, September 21st. Zacks Investment Research upgraded Zogenix from a sell rating to a hold rating in a report on Saturday, August 13th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Zogenix currently has a consensus rating of Buy and a consensus price target of $20.50.
Shares of Zogenix (NASDAQ:ZGNX) opened at 10.18 on Tuesday. The stock’s market capitalization is $252.36 million. Zogenix has a 52 week low of $7.33 and a 52 week high of $16.56. The company has a 50-day moving average price of $9.66 and a 200 day moving average price of $9.52.
Zogenix (NASDAQ:ZGNX) last announced its earnings results on Tuesday, August 9th. The company reported ($0.76) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.81) by $0.05. The firm earned $2.10 million during the quarter, compared to analysts’ expectations of $5.36 million. Zogenix had a negative return on equity of 33.62% and a negative net margin of 192.64%. The company’s quarterly revenue was down 71.6% on a year-over-year basis. During the same quarter in the previous year, the business earned ($3.78) EPS. Equities analysts forecast that Zogenix will post ($3.24) EPS for the current fiscal year.
Large investors have recently modified their holdings of the company. JPMorgan Chase & Co. raised its stake in shares of Zogenix by 6.6% in the second quarter. JPMorgan Chase & Co. now owns 13,530 shares of the company’s stock worth $109,000 after buying an additional 835 shares in the last quarter. Alliancebernstein L.P. raised its stake in shares of Zogenix by 17.0% in the second quarter. Alliancebernstein L.P. now owns 16,512 shares of the company’s stock worth $133,000 after buying an additional 2,400 shares in the last quarter. ProShare Advisors LLC raised its stake in shares of Zogenix by 1.2% in the second quarter. ProShare Advisors LLC now owns 21,472 shares of the company’s stock worth $173,000 after buying an additional 252 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its stake in shares of Zogenix by 15.5% in the first quarter. Metropolitan Life Insurance Co. NY now owns 19,892 shares of the company’s stock worth $184,000 after buying an additional 2,671 shares in the last quarter. Finally, Palo Alto Investors LLC raised its stake in shares of Zogenix by 3.1% in the second quarter. Palo Alto Investors LLC now owns 29,500 shares of the company’s stock worth $237,000 after buying an additional 900 shares in the last quarter. 84.91% of the stock is owned by hedge funds and other institutional investors.
Zogenix, Inc is a pharmaceutical company engaged in developing and commercializing central nervous system (CNS) therapies that address specific clinical needs for people living with orphan and other CNS disorders in requirement of treatment alternatives. The Company’s areas of focus are epilepsy and schizophrenia.
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